The GM Building tops the table of multi-million dollar property tax payers according to the New York Post. The Fifth Avenue building is due to be hit with a bill of $59.2 despite the fact that the property, revalued at $3.4 billion last year, is valued at only $1.57 billion by the city.
The Stuyvesant Town-Peter Cooper Village and the Time Warner Center at Columbus Circle will also pay more than $50 million each in property taxes.
Other big payers include the Metlife Building on Park Avenue and the McGraw-Hill Building at 1221 Avenue of the Americas which will each be charged over $40 million.
Google’s office at 111 Eighth Avenue will receive a bill for at least $30 million, the largest jump in the 2014 tax year.
Taxes are calculated using notional values which are not reflective of the open market.
Landlords must file real property income and expense statements (RPIE) for income producing properties with an assessed value of more than $40,000. These figures are not made public, and landlords can file updated information about their tax assessments if they wish to protest their assessments.
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